Changes in the insurance industry, and how will ‘The Merge’ affect the crypto market? – Hand paper

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Insurtech and traditional insurance: the evolution of the insurance industry

The insurance business is going digital, and, in many ways, it is changing the way business is done.

Insurtech providers are opening up new opportunities for the insurance industry. As digital providers look to integrate insurance products into the consumer’s shopping experience, with personalized and customizable content, incumbents are keen to expand their reach to remain competitive.

Experts argue that the best way forward, keeping customers in the middle, is cooperation between the two. The idea that traditional and digital insurers are competing against each other may now be outdated.

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A recent summary

Bankchain Summary: How will ‘The Merge’ affect the crypto market?

This week, we’re going to talk about Ethereum 2.0 and how it will affect the future of blockchain and crypto.

About a year ago, Tearsheet journalist Ismail Umar wrote an article on Ethereum 2.0, which refers to the development of the Ethereum network to make it more scalable, secure, and sustainable. These additions represent a major change to the Ethereum network, and by extension, the entire blockchain ecosystem.

Once implemented, Eth2 will increase the network speed from the current average of 30 per second to maximum. 100,000 TPS. These changes will also improve network security and significantly reduce Ethereum’s carbon emissions.

The evolution of Ethereum 2.0 is a major project that has been in the works since 2014 – the implementation of Eth2 includes three different phases.

We explore why the upcoming second phase, ‘The Merge’, is so important and how it will affect the industry moving forward.

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Just look at the charts

1. Fintech app download growth returns to pre-Covid levels

Source: and 16 z

2. The integrated banking environment is increasing

Source: Marcel van Oost

Today’s news

The Federal Reserve is issuing guidance for banks looking into crypto operations
The US Federal Reserve issued additional guidance to banks considering activities related to cryptocurrencies, stressing that companies must notify the Fed in advance and ensure that everything they do is legally permitted. (Reuters)

Revolut will renew the accounts of young users
Revolut has also adapted its service to children aged 6 to 17. ‘Revolut <18' is a youth account linked to a parent/guardian's Revolut account, which aims to give them a financial start in life. (Additional information)

Remitly to buy Rewire for about $80 million
US-based data processor Remitly has signed a deal to buy Israel-based Rewire, a remittance platform for migrant workers. The project is expected to close in the second half of 2022. (The Pipers)

Funding Circle co-founder unveils Super Payments with $27 million in funding
Funding Circle co-founder Samir Desai has unveiled a new UK fintech startup called Super Payments. Super is promising to help businesses cut out “middleman” payment processors, who often pay up to 5% more per transaction. (Results TechCrunch)

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